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Results from Democrats
Last answered 5 minutes ago
Distribution of answers submitted by Democrats.
Data includes total votes submitted by visitors since Apr 8, 2016. For users that answer more than once (yes we know), only their most recent answer is counted in the total results. Total percentages may not add up to exactly 100% as we allow users to submit "grey area" stances that may not be categorized into yes/no stances.
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* Data estimated by matching users to U.S. Census data block groups via the American Community Survey (2007-2011)
Learn more about Offshore Banking
An offshore (or foreign) bank account is a bank account you have outside of your country of residence. The benefits of an offshore bank account include tax reduction, privacy, currency diversification, asset protection from lawsuits, and reducing your political risk. In April 2016, Wikileaks released 11.5 million confidential documents, known as the Panama Papers, which provided detailed information on 214,000 offshore companies serviced by the Panamanian Law Firm, Mossack Fonesca. The document exposed how world leaders and wealthy individuals hide money in secret offshore tax shelters. The release of the documents renewed proposals for laws banning the use of offshore accounts and tax havens. Proponents of the of the ban argue they should be outlawed because they have a long history of being vehicles for tax evasion, money laundering, illicit arms dealing and funding terrorism. Opponents of the ban argue that punitive regulations will make it harder for American companies to compete and will further discourage businesses from locating and investing in the United States. See recent offshore banking news
More stances on this issue
Yes, but that revenue should be closely monitored and taxed. 7 months ago from a Democrat in Dallas, TX
No make this a capital offense punishable by total asset freeze, seizure and market blacklisting. 7 months ago from a Democrat in Sanford, NC
Yes, as long as offshore income is from money initially earned in the U.S. and not from labor or work overseas and is reported by both individuals and corporations - and appropriate taxes withheld. 7 months ago from a Democrat in Uracus (Farallon de Pajaros), MP
They can put it on the Moon for all I care. Set up US rules so "offshore" money flows into the
US economy. It's a global economy and we ought to track all investments - like the billions
in illegal drug, weapon and human... 7 months ago from a Democrat in Laurel, MD
A modified answer here, given that some have dual citizenship or at least reside considerably in this and another country, as well. Most funds should be in U. S. Financial institutions (especially solid credit unions rather than banks when possible). Some... 7 months ago from a Democrat in Berkeley, CA
No...these accounts are a way to escape paying taxes for corporations and the super wealthy. They know all the loopholes and while they are hiding their stash and sucking the average citizen for everything, the infrastructure is falling apart, wages for... 7 months ago from a Democrat in Danbury, CT
Offshore wealth needs to be monitored with greater transparency. Returns to GDP need to be carefully and impartially evaluated and policy consequences need to be considered before judgements are rendered. 7 months ago from a Democrat in Chicago, IL
No, and neither should corporations and business organizations. 7 months ago from a Democrat in South Salt Lake, UT